Running Time: 00:49:42
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Here's the transcript of the show:
Running Time: 00:49:42
Download: MP3
Here's the transcript of the show:
In an riveting display of modern technological efficency that undoubtedly thrilled the editors of Popular Mechanics magazine, last Friday, by way of a Predator Drone aircraft, the CIA fired missiles at a group of houses in a village on Pakistan's north Western border with Afghanistan. Eighteen Pakistani villagers, including women and children, were either blown to pieces, burned to death or crushed as their homes collapsed on top of them as they slept in their beds.
The official reason for the attack, as reported in the mainstream media, was to rid the world of a few more Islamic terrorists who, as White house Spokesman Scott McClelland reminded us, "continue to seek to do harm to the American people". Somehow, the murder of those eighteen Pakistani villagers means that American's are now tangibly safer.
The official reason for the attack, as reported in the mainstream media, was to rid the world of a few more Islamic terrorists who, as White house Spokesman Scott McClelland reminded us, "continue to seek to do harm to the American people". Somehow, the murder of those eighteen Pakistani villagers means that American's are now tangibly safer.
Gold continued its rise, closing at 556.90 dollars an ounce on Friday, up 2.7% from $542.20 the Friday before. The dollar closed at 0.8236 euros on Friday, virtually unchanged from 0.8239 the week before. The euro, in turn, closed at 1.2142 compared to 1.2137 the week before. Gold in euros would be 458.66 euros an ounce up 2.7% from 446.73 at the previous week's close. Oil closed at 63.92 dollars an ounce, down 0.6% from $64.31 the week before. Oil in euros would be 52.64 euros a barrel, down 0.7% from 52.99 at the end of the previous week. The gold/oil ratio closed at 8.71, up 3.3% from 8.43 the Friday before. In the U.S. stock market, the Dow Jones Industrial Average closed at 10,959.87, virtually unchanged from 10,959.31 the week before. The NASDAQ closed at 2,317.04 up 0.5% from 2,305.62 at the close of the previous week. The yield on the ten-year U.S. Treasury note was 4.35 at Friday's close, down two basis points from 4.37 the week before.
Besides gold, everything in the numbers looks pretty normal. Gold, however, has risen 10% since Christmas. The economic crisis is here. So why is the stock market doing so well? Steven Lagavulin of the Deconsumption blog points out that the U.S. Federal Reserve Board has pumped more money into the system than they have since September 11, 2001:
Besides gold, everything in the numbers looks pretty normal. Gold, however, has risen 10% since Christmas. The economic crisis is here. So why is the stock market doing so well? Steven Lagavulin of the Deconsumption blog points out that the U.S. Federal Reserve Board has pumped more money into the system than they have since September 11, 2001:
Fed FloodMichael Nystrom confronts the high stock price question and also concludes that it is due to the massive increase in the M3 money supply:
I've been watching this handy thumbnail graph of Federal open market actions for some time now and thought it might be of interest to pass along. It basically reflects the daily liquidity that's being created--measuring the power of the proverbial printing presses. And frankly, they've been kicked into high gear for the past couple weeks. I assumed this was just to give a quick boost to the stock market going into year's end, but I gotta tell ya.....yesterday's action was massive...I mean the kind of liquidity you wouldn't see unless there was real Fear at the Fed.
To give you some perspective you might eyeball the bottom black lines on this longer-term chart....and note that the last time we saw 60 billion was in the second week of Sept. 2001....
Running Time: 00:30:44
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Running Time: 00:30:44
Download: MP3
Signs Team,
I'm currently living in a town named Chelmsford in Essex, UK. Usually I would be hesitant to give this information out, but I felt that some people here may be interested in the odd report from time to time of strange meteoric activity in the skies over this area of the UK.
Last night on 11th January 2006 at roughly 19:10hours I witnessed a descending meteoric phenomena which, if I were to hazard a guess, was a small meteor breaking up to the NE of my position.
I'd guess no more than 3-6 miles from my position as the view I had was clear enough to see a glittering trail of sparks and colour descending with it, although there was no impact sound, I didn't really expect any. It was in my view for around 1.5 - 3 seconds, so I hadn't seen it descend from a great distance and my view was obscured quickly by other houses.
I'm currently living in a town named Chelmsford in Essex, UK. Usually I would be hesitant to give this information out, but I felt that some people here may be interested in the odd report from time to time of strange meteoric activity in the skies over this area of the UK.
Last night on 11th January 2006 at roughly 19:10hours I witnessed a descending meteoric phenomena which, if I were to hazard a guess, was a small meteor breaking up to the NE of my position.
I'd guess no more than 3-6 miles from my position as the view I had was clear enough to see a glittering trail of sparks and colour descending with it, although there was no impact sound, I didn't really expect any. It was in my view for around 1.5 - 3 seconds, so I hadn't seen it descend from a great distance and my view was obscured quickly by other houses.
Gold closed at 542.20 dollars an ounce on Friday, up 4.3% (and more than 7% for the past two weeks) from $519.70 at the end of the week before. The dollar closed at 0.8239 euros on Friday, down 2.4% from 0.8440 the week before. That puts the euro at 1.2137, compared to 1.1849 at the previous Friday's close. Gold in euros would be 446.73 euros an ounce, up 1.9% from the previous week's 438.60. Oil closed at 64.31 dollars a barrel on Friday, up 5.4% from $61.04 the week before. Oil in euros would be 52.99 euros a barrel, up 3.0% from 51.43 for the week. The gold/oil ratio was 8.43 down 1.0% from 8.51 the week before. In the U.S. stock market, the Dow closed at 10,959.31, up 2.3% from 10,717.50 the week before (down when denominated in gold and oil, though). The NASDAQ closed at 2,305.62 on Friday, up 4.5% from 2,205.32 at the previous week's close. The yield on the ten-year U.S. Treasury note was 4.37%, down two basis points from 4.39 the week before.
Another odd week where the Mainstream Media in the U.S. are trying to push their rosy economic scenario while gold and oil are up sharply, and the U.S. seems to be careening from two disastrous and expensive military defeats while planning several more. Iran, Syria, Venezuela, Cuba? Which will it be? And it is doing this planning with a major constitutional crisis looming (that is, if there is any constitution left to have a crisis).
Speaking of Iraq, lost in the bad news for the U.S. on the battlefield was the news that the International Monetary Fund's prescription for Iraq is working like a charm in producing the classic "IMF Riot":
Another odd week where the Mainstream Media in the U.S. are trying to push their rosy economic scenario while gold and oil are up sharply, and the U.S. seems to be careening from two disastrous and expensive military defeats while planning several more. Iran, Syria, Venezuela, Cuba? Which will it be? And it is doing this planning with a major constitutional crisis looming (that is, if there is any constitution left to have a crisis).
Speaking of Iraq, lost in the bad news for the U.S. on the battlefield was the news that the International Monetary Fund's prescription for Iraq is working like a charm in producing the classic "IMF Riot":
Running Time: 00:47:06
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Gold closed at 519.70 dollars an ounce on Friday, up 2.7% from $505.90 the Friday before. The dollar closed at 0.8440 euros on Friday, up 0.2% from 0.8425 at the end of the previous week. The euro closed at 1.1849 dollars, down from 1.1869 the week before. Gold in euros would be 438.60 an ounce at Friday's close, up 2.9% for the week. Oil closed at 61.04 dollars a barrel, up 4.5% from $58.43 the week before. Oil in euros would be 51.43 euros a barrel, up 4.5% from 49.23 euros at the end of the previous week. The gold/oil ratio closed at 8.51, down 1.8% from 8.66 the week before. In U.S. stocks, the Dow Jones Industrial Average closed at 10,717.50 for the week, down 1.5% from 10,883.27 at the previous week's close. The NASDAQ closed at 2,205.32, down 2.0% from 2,249.42 the week before. The yield on the ten-year U.S. Treasury note closed at 4.39%, up one basis point from 4.38 the week before.
Since Friday was the last market day of the year, let's look at how the numbers we have been following came out for the year.
Since Friday was the last market day of the year, let's look at how the numbers we have been following came out for the year.
Running Time: 00:31:57
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